Cyprus Currency

The official currency of Cyprus was originally the pound known as lira. The Cypriot currency was as follows:

· 1 cent

· 2 cents

· 5 cents

· 10 cents

· 20 cents

· 50 cents

· 1 pound (note)

· 5 pounds (note)

· 10 pounds (note)

· 20 pounds (note)

Cyprus Euro

The pound was then replaced by the euro from the 1st of January 2008. The currency entered the Exchange Rate Mechanism II on 2 May 2005 and it was limited within the band of CYP 0.585274 ±15% per euro.

The Bank of Cyprus was the first bank to include the balance of euros on its statements, followed by the Cyprus Telecommunications authority during 2006. Later some shops also began to show the euro total on their receipts. However payments by the Cypriot pound were accepted and still occurred until 31st of January 2008.

The Cypriot Euro is as follows:

· 1 cent

· 2 cents

· 5 cents

· 10 cents

· 20 cents

· 50 cents

· 1 euro (note)

· 2 euros

· 5 euros (note)

· 10 euros (note)

20 euros (note)

50 euros (note)

100 euros (note)

200 euros (note)

500 euros (note)

Currency Exchange

Every bank in Cyprus offers foreign currency exchange services and quote the exchange rates of the Euro against all major foreign currencies daily. Most hotels also offer the option for foreign currency to be exchanged. For more information about exchange rates please refer to the Central Bank of Cyprus.

Forms of Payment

All major foreign currencies credit cards and cheques are accepted by hotels, large shops - stores and restaurants